SGR has dropped petrol prices to N899/litre at its Ogun stations, sparking fresh price cuts across the southwest.

This comes after Dangote Refinery lowered its ex-depot price to N865/litre, intensifying competition.

IPMAN Vice President, Hammed Fashola, warned marketers: “Be careful—prices can drop suddenly. Don’t get caught in losses.”

Prices at many stations have fallen from over N940 to between N899–N930.

Importers say they’re bleeding cash. “We’re forced to sell below cost just to compete,” one marketer said.

Experts caution against monopoly, urging a fair, competitive market.